RE:RE:RE:Right offering
They are increasing the float, and just giving shareholders a chance to keep pace with the dilution. In the news release about this share offering they said any shares not sold or taken up by other share holders would be sold to a Dundee( the soliciting dealer), or some affiliate dealers. One of which is Exploration Capital Partners 2000 Limited Partnership ("Explo Cap"). Which is an affiliate of Sprott Inc., which holds more than 10% of the outstanding shares.
Sprott is slowly taking more and more of the float. This will make it easier for them to vote/push through any type of takeover or merger they may be planning. I think the deadline of 23 Dec is so they can get the money by the new year for interest payments they must make.
They are involving these other entities so they are sure to sell all the shares for sale, so they get the full 5.3 million they need so badly. Just in case the rank and file shareholders do not think this is such a great deal.